Accel launches $305 million fund for Indian start ups

Accel Partners, the venture capital major, on Tuesday launched a new $305 million fund (about Rs 1,903.6 crore) that will invest in early stage Indian firms working in areas like mobile, enterprise software and healthcare. "We

PTI [ Updated: March 25, 2015 17:01 IST ]

accel launches 305 million fund for indian start ups

Accel Partners, the venture capital major, on Tuesday launched a new $305 million fund (about Rs 1,903.6 crore) that will invest in early stage Indian firms working in areas like mobile, enterprise software and healthcare.

"We are announcing our new fund, Accel India IV, a $305 million fund that like prior funds will invest in very early stage companies where we partner closely with India-based entrepreneurs to help build their businesses from the earliest days," Accel Partners India Partner Subrata Mitra said in a company blogpost.

The fund will also continue to selectively pursue growth equity opportunities in the most promising technology companies in India, he added.